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What They Don't Tell You About Business Exit Planning
Thinking about selling your business, but don't know where to start? In this episode of the Tax Talk Podcast, Jared Pilon from Legacy Accounting LLP sits down with Travis Koivula, Investment Advisor at Island Savings Wealth Management, to unpack everything you need to know about successfully exiting your business.
Learn why most business owners wait too long to plan their exit and how that mistake costs them thousands. We’ll also reveal the critical three-year minimum planning window and why "selling when you want to, not when you need to" is the key to maximizing your business value in this podcast episode.
What you’ll learn:
- Understanding market windows and why you should time your exit strategically
- Common exit strategies like family succession, management buyouts, and third-party sales
- Why doing less in your business makes it worth more
- Vendor takebacks and earnouts: When they work (and when they don't)
- Why having your documentation ready prevents buyers from walking away
- Proper funding strategies using life insurance
Find us at:
https://www.legacyllp.ca/
Need to get in touch with Travis?
Travis Koivula
Island Savings Wealth Management
Timestamps:
00:00 Kicking it off
01:47 Start planning your business exit
05:51 Be prepared: Avoid deal fatigue
11:28 Family succession strategy
16:49 Third-party sales
18:13 Management buyouts
20:38 Tax implications of a business sale
27:17 Contingency plans
31:50 Vendor take-backs
35:25 Wrapping it all up
#BusinessExitPlan #SuccessionPlanning #ExitStrategy
________________________________________
Disclaimer: By using this website, blog or podcast, users agree as follows: The information, services and/or products are for general information only and any reliance on the information provided therein is done at your own risk. If you make tax, accounting, investing or legal decisions after accessing this website, blog or podcast, it is recommended that you consult a qualified professional first. The views and opinions expressed are those of the author, seller, guests or publisher and do not necessarily reflect the views of the organizations or businesses that these individuals are associated with. Although we make strong efforts to make sure my information is accurate, we cannot always guarantee that the information on this website, blog or podcast is always correct, complete or up-to-date.
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By Jared PilonThinking about selling your business, but don't know where to start? In this episode of the Tax Talk Podcast, Jared Pilon from Legacy Accounting LLP sits down with Travis Koivula, Investment Advisor at Island Savings Wealth Management, to unpack everything you need to know about successfully exiting your business.
Learn why most business owners wait too long to plan their exit and how that mistake costs them thousands. We’ll also reveal the critical three-year minimum planning window and why "selling when you want to, not when you need to" is the key to maximizing your business value in this podcast episode.
What you’ll learn:
- Understanding market windows and why you should time your exit strategically
- Common exit strategies like family succession, management buyouts, and third-party sales
- Why doing less in your business makes it worth more
- Vendor takebacks and earnouts: When they work (and when they don't)
- Why having your documentation ready prevents buyers from walking away
- Proper funding strategies using life insurance
Find us at:
https://www.legacyllp.ca/
Need to get in touch with Travis?
Travis Koivula
Island Savings Wealth Management
Timestamps:
00:00 Kicking it off
01:47 Start planning your business exit
05:51 Be prepared: Avoid deal fatigue
11:28 Family succession strategy
16:49 Third-party sales
18:13 Management buyouts
20:38 Tax implications of a business sale
27:17 Contingency plans
31:50 Vendor take-backs
35:25 Wrapping it all up
#BusinessExitPlan #SuccessionPlanning #ExitStrategy
________________________________________
Disclaimer: By using this website, blog or podcast, users agree as follows: The information, services and/or products are for general information only and any reliance on the information provided therein is done at your own risk. If you make tax, accounting, investing or legal decisions after accessing this website, blog or podcast, it is recommended that you consult a qualified professional first. The views and opinions expressed are those of the author, seller, guests or publisher and do not necessarily reflect the views of the organizations or businesses that these individuals are associated with. Although we make strong efforts to make sure my information is accurate, we cannot always guarantee that the information on this website, blog or podcast is always correct, complete or up-to-date.